U.S. spot Bitcoin exchange-traded products recorded combined net inflows of $32.1 million on July 29, ending four consecutive trading sessions of withdrawals. BlackRock’s iShares Bitcoin Trust generated $89.8 million in net inflows, providing enough demand to offset redemptions from Fidelity and ARK 21Shares.
The reversal followed approximately $526.5 million in cumulative outflows across July 23, July 24, July 27 and July 28. The positive session interrupted the withdrawal sequence without fully recovering the capital that left during the preceding four trading days.
BlackRock Offsets Redemptions From Rival Funds
Fidelity’s Wise Origin Bitcoin Fund recorded $43.1 million in net outflows, while the ARK 21Shares Bitcoin ETF lost $14.6 million. The remaining tracked products reported no net movement during the session. IBIT was the only fund to record a positive flow on July 29, making the aggregate result dependent entirely on BlackRock’s product.
The divided session illustrates how headline ETF totals can conceal materially different outcomes among issuers. An aggregate inflow does not mean demand increased uniformly across the market, particularly when one product absorbs capital while competitors experience redemptions. July 29 reflected issuer concentration rather than a broad-based return of inflows.
IBIT’s scale gives it substantial influence over daily industry totals. BlackRock reported approximately $46.99 billion in net assets and 1.297 billion shares outstanding as of July 29. The fund remains a major regulated vehicle for obtaining Bitcoin price exposure without directly managing cryptocurrency custody, although its shares remain subject to Bitcoin volatility and can trade above or below net asset value.
Daily creation and redemption data does not identify whether the underlying buyers were institutions, financial advisers, hedge funds or individual investors. The $89.8 million inflow confirms net capital creation in IBIT but does not reveal the investor category or motivation behind the allocation. Claims of renewed institutional demand would require additional ownership or trading information beyond the fund-flow figures.
Monthly Gains Remain Modest Despite the Reversal
Bitcoin products remained slightly negative for the week through July 29. The $11.6 million outflow on Monday and $49.7 million withdrawal on Tuesday outweighed Wednesday’s $32.1 million inflow, producing a three-session net outflow of approximately $29.2 million. The weekly balance therefore remained negative despite BlackRock’s midweek recovery.
For July as a whole, Farside’s daily figures produce approximately $205.1 million in cumulative net inflows through July 29. That positive balance includes several strong sessions, such as $265.7 million on July 6, $226.8 million on July 20 and $203.2 million on July 21, but also substantial withdrawals, including $424.7 million on July 13. The monthly total masks sharp shifts between risk allocation and redemption rather than showing a steady accumulation trend.
Ether-linked products did not share Bitcoin’s July 29 reversal. U.S. spot Ether funds recorded combined net outflows of $32.9 million that day, led by withdrawals from Fidelity, Grayscale and several smaller products. The previously reported $9.4 million Ether inflow occurred on July 28, not July 29.
The latest Bitcoin flow therefore represents a narrow stabilization led by one issuer rather than confirmation of a sustained market-wide shift. Future sessions will determine whether IBIT’s inflow begins a longer recovery or remains an isolated interruption within a volatile allocation cycle. Broader confirmation would require repeated net creations across several funds rather than continued dependence on BlackRock to offset redemptions elsewhere.